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2014-01-08_REVISION - M1994096
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2014-01-08_REVISION - M1994096
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Entry Properties
Last modified
8/24/2016 5:38:48 PM
Creation date
1/28/2014 9:48:15 AM
Metadata
Fields
Template:
DRMS Permit Index
Permit No
M1994096
IBM Index Class Name
REVISION
Doc Date
1/8/2014
Doc Name
Application for Transfer of Mineral Permit and Succession of Operators
From
High Plains Sand and Gravel to Glacier Rock Company
To
DRMS
Email Name
ECS
TAK
BJC
Media Type
D
Archive
No
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RECEIVED <br />MINING PERMIT TRANSFER AGREEMENT <br />JAN 0 8 2014 <br />THIS MINING PERMIT TRANSFER AGREEMENT ( "Agreement ") 41*9defffiWiamation, <br />entered into effective as of December 1, 2013, by and between HIGH PLAINS'ig '1'0" <br />AND GRAVEL LLC, a Colorado limited liability company, dba Pittington Construction, <br />, whose address is 229 Cheyenne Avenue, Eaton, Colorado 80615 ( "Transferor "), and <br />GLACIER ROCK COMPANY, a Colorado corporation, whose address is 3501 East <br />Prospect Road, Fort Collins, Colorado 80525 ( "Transferee "). <br />RECITALS <br />A. Transferor has agreed to transfer to Transferee that certain Mining Permit <br />No. M -1994 -096 ( "Mining Permit ") for the operation of the Russell Gravel Pit in Larimer <br />County, Colorado ( "Gravel Pit "), issued by the Colorado Division of Minerals and <br />Geology ( "Division "). <br />B. In consideration of the transfer of the Mining Permit by Transferor to <br />Transferee, Transferee has agreed to pay Royalty Payments (defined below) based upon <br />Materials (defined below) extracted and sold from the mine as more fully provided <br />hereinafter. <br />C. The parties desire to enter into this Agreement to evidence the obligation of <br />Transferee to make such Royalty Payments to Transferor upon the terms and conditions <br />set forth herein. <br />NOW, THEREFORE, for and in consideration of the transfer of the Mining Permit <br />to Transferee and the mutual promises of the parties hereto and other good and valuable <br />consideration, the receipt and adequacy of which are hereby confessed and <br />acknowledged, the parties hereto agree as follows: <br />1. Transfer of Mininiz Permit. Transferor shall assist Transferee in the transfer <br />of the Mining Permit with the Division, free and clear of any liens and encumbrances, <br />without out -of- pocket cost or expense to Transferor, resulting in Transferee being <br />designated the "Successor Operator" by the Division. <br />2. Payment of Royalties. In consideration of the transfer of the Mining Permit <br />by Transferor to Transferee, Transferee shall pay to Transferor the following royalties <br />( "Royalty Payments ") up to a maximum of One Hundred Thousand Dollars <br />($100,000.00): <br />
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